Mali Secures 35% Stake in New Mining Project with Allied Gold Corp
Jan 8, 2025

Mali Secures 35% Stake in New Mining Project with Allied Gold Corp

Mali has cemented its growing involvement in the mining sector by signing an agreement with Canada's Allied Gold Corp, granting it a 35% stake in a new mine closely linked to the Sadiola project. The complete details of the agreement can be reviewed here.

This strategic move comes as Mali's government pushes to maximize revenue from its mineral resources through the enforcement of its 2023 mining code. This new legislation, which allows the government and private investors to secure up to a 35% stake in mining operations, has even stirred some tensions with certain mining entities under the ruling junta.

The anticipated annual revenue from the deal with Allied Gold is forecasted to reach approximately 120 billion CFA francs (about $188 million), as detailed by Mali's Finance Minister, Alousseni Sanou. The resources from the project are projected to yield around 200,000 ounces.

Additionally, Allied Gold has commenced the second phase of development at the Sadiola site, following the Mali government's renewal of its operating license for another 10 years as of October. The investment required for this phase is estimated by Allied Gold Mali's Vice President, Ilias Keita, to be about $500 million, according to data obtained from the IndexBox platform.

Source: IndexBox Market Intelligence Platform

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  2. 2. EXECUTIVE SUMMARY

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  3. 3. MARKET OVERVIEW

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  12. LIST OF TABLES

    1. Key Findings In 2024
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    9. Exports, In Physical Terms, By Country, 2012–2024
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  13. LIST OF FIGURES

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    6. Products: Market Size And Growth, By Type
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    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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